MANA Advisors LLC Takes Position in Lam Research Co. (LRCX)

MANA Advisors LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 8,403 shares of the semiconductor company’s stock, valued at approximately $1,547,000. Lam Research accounts for about 0.7% of MANA Advisors LLC’s portfolio, making the stock its 24th biggest position.

Other institutional investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC lifted its position in Lam Research by 15.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after acquiring an additional 527 shares during the period. Putnam FL Investment Management Co. acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $15,390,000. Epoch Investment Partners Inc. lifted its holdings in shares of Lam Research by 0.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock valued at $11,974,000 after buying an additional 600 shares during the period. Financial Enhancement Group LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $295,000. Finally, Lourd Capital LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $360,000. 90.06% of the stock is owned by institutional investors.

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Shares of Lam Research Co. (LRCX) traded down $1.33 during trading on Wednesday, reaching $222.64. The company had a trading volume of 3,290,000 shares, compared to its average volume of 4,150,000. Lam Research Co. has a 52-week low of $121.17 and a 52-week high of $234.88. The firm has a market capitalization of $36,280.00, a PE ratio of 75.99, a P/E/G ratio of 0.92 and a beta of 1.43. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.66. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. analysts predict that Lam Research Co. will post 16.74 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio is presently 68.26%.

Lam Research announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Several research firms have recently commented on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Vetr cut Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target for the company. in a report on Monday. KeyCorp reissued a “buy” rating and issued a $225.00 price target on shares of Lam Research in a report on Sunday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price objective (up from $235.00) on shares of Lam Research in a report on Thursday, January 25th. Finally, Stifel Nicolaus lifted their price objective on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Twenty-five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $239.28.

In related news, insider Richard A. Gottscho sold 16,866 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Timothy Archer sold 6,465 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $214.28, for a total value of $1,385,320.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,619 shares of company stock worth $10,790,107. 0.41% of the stock is currently owned by insiders.

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Lam Research Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.